shammie128
Apr 14, 2013, 05:07 PM
Nick Waege started his own consulting firm, Waegelein Consulting, on June 1, 2010. The trial balance at June 30 is as follows.
WAEGELEIN CONSULTING
Trial Balance
June 30, 2010
Debit Credit
Cash $6,850
Accounts Receivable 7,000
Prepaid Insurance 2,640
Supplies 2,000
Office Equipment 15,000
Accounts Payable $4,540
Unearned Service Revenue 5,200
Common Stock 21,750
Service Revenue 8,000
Salaries Expense 4,000
Rent Expense 2,000
Total $39,490 $39,490
Other data:
1.Supplies on hand at June 30 total $980.
2.A utility bill for $180 has not been recorded and will not be paid until next month.
3.The insurance policy is for a year.
4.$3,900 of unearned service revenue has been earned at the end of the month.
5.Salaries of $1,250 are accrued at June 30.
6.The office equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.
7.Invoices representing $3,500 of services performed during the month have not been recorded as of June 30.
WAEGELEIN CONSULTING
Trial Balance
June 30, 2010
Debit Credit
Cash $6,850
Accounts Receivable 7,000
Prepaid Insurance 2,640
Supplies 2,000
Office Equipment 15,000
Accounts Payable $4,540
Unearned Service Revenue 5,200
Common Stock 21,750
Service Revenue 8,000
Salaries Expense 4,000
Rent Expense 2,000
Total $39,490 $39,490
Other data:
1.Supplies on hand at June 30 total $980.
2.A utility bill for $180 has not been recorded and will not be paid until next month.
3.The insurance policy is for a year.
4.$3,900 of unearned service revenue has been earned at the end of the month.
5.Salaries of $1,250 are accrued at June 30.
6.The office equipment has a 5-year life with no salvage value and is being depreciated at $250 per month for 60 months.
7.Invoices representing $3,500 of services performed during the month have not been recorded as of June 30.